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Recurring Revenue Works For You – Get and Stay #FI

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How does recurring revenue work for you? Why is it so powerful to those seeking financial independence? And, just as important, why is it cherished by those wanting to stay #FI after they retire?

I like having multiple revenue streams, and I love income streams that create recurring revenue. Set them up once and get paid over and over again. I believe that is the key. Get paid over and over again for something you do once and spend little time managing in the future.

For example, we spent 10 minutes setting up the DOSH app to get extra cash back at places we already shop. Stores include Kroger, Pizza Hut, Dunkin Donuts, Sam’s Club, Pier One, World Market and so on (100,000 locations nationwide). More cash back than most get, unless you too have the DOSH app. No scanning receipts or other BS; it works automatically. Download the free app and get $5! Since loading the app this month, we have over $20 cash back that will go in our PayPal account. It adds up fast with everything else we do, read on. [My Review of the DOSH app is here for those interested in saving more.]

Recurring Revenue Defined

Recurring revenue is income that repeats in the future for something you did in the past. It is predictable income you get whether you continue working or not. And, it is income you continue to receive for an extended period of time. Recurring revenue doesn’t require a lot of your time once it is established. But, it usually requires some management time, albeit limited in most cases.

My goal is to create multiple income streams, the majority of which produce recurring revenue. And, I’ll continue adding income streams until my recurring revenue exceeds my work income. But, that’s not easy to do in a short period of time. It often takes multiple, relatively small income streams that accumulate. It is what I like to call, “Income Stacking,” which I’ll explain below. First, what types of activities create recurring revenue? There are numerous.

One example is subscriptions, such as the auto-renewal policies setup by Microsoft Office 365, Norton anti-virus, Apple iTunes, and so on. Paid subscriptions that auto-renew are a good source of recurring revenue for everyone. However, they’re not easy for everyone to create. There are more accessible recurring revenue opportunities for you and I. Here are a few my wife and I enjoy today:

Online Savings Accounts
(recurring monthly interest income)

Dividend Paying Investments
(recurring monthly/quarterly income)

Rental Property
(recurring rent payments, monthly principal payments)

Affiliate Marketing

Energy Conservation

Credit Card Management
(sign-up bonuses and monthly cash rewards)

Not so common income

Side Hustles
(repeat clients)

Income Stacking

I ran across the term, “income stacking” while researching new ways to create recurring revenue. Basically, it means creating multiple small revenue streams that “stack” on each other. Say you get $6/month from Nielsen, $20/month from Google AdSense, $200/month from Rover, $100/month in dividends, and so on. Before you know it, your recurring revenue from multiple relatively small revenue streams becomes more than your paycheck. That’s the goal!

Thanks for stopping by. Please leave a comment and let us know what you are doing for recurring revenue – #FIDO.

Additional Recurring Revenue Resources

 

 

 

 

 

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